I agree with you in this deleveraging world economy. But with near 0% interest rate's, my friend, where is one to put their investment's? Check out the POMO of the Federal Reserve web. There is a saying... do not fight the Fed.
I agree. Some folk's hoard gold. I would rather, if one is interested in gold,to just buy RGLD. RGLD pay's an increasing dividend(shareholder friendly). I value dividend's with the "safety" of gold.